Tongaat Hulett has appointed CFO Rob Aitken as acting CEO to replace Dan Marokane, who will head Eskom from March.
The sugar producer remains under the management of business rescue practitioners Metis Strategic Advisors, even as it was bought by the Vision Consortium last week. The arrangement will remain in place until the Vision deal is completed and competition approvals granted.
Aitken was one of the key people involved in uncovering the R12bn fraud at Tongaat in 2018.
The company said that Aitken had played a critical role in the turnaround of Tongaat Hulett and “has provided invaluable support to the business rescue practitioners since the firm went into rescue in October 2022”.
Marokane will work with the Tongaat Hulett team and the business rescue practitioners until the end of February to ensure a smooth handover.
“Dan and Rob have worked closely during the entire period of the company's turnaround journey,” The firm said in a statement.
Aitken is registered with the SA Institute of Chartered Accountants. He has held various senior executive roles over the past 15 years and has developed a deep understanding of the sugar industry and the business of Tongaat Hulett, the firm said.
“Rob has demonstrated leadership, grit and commitment through challenging and uncertain times.”
The company said it “would like to thank Dan for his leadership and contribution and wishes him the best of luck as he steps into his new role”.
It added: “Dan has been an integral member of the Tongaat Hulett board of directors and its executive team, and has played a pivotal role since his appointment.”
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